Paper-Free Banking Loan Application

Banking Application that Facilitates Digital Lending

Highlights

Cross-platform banking software application facilitating and automating the complete lending process.
Evaluating customers based on risk criteria, reducing the time spent applying for a loan and wasting no paper in the process.
Compliant with EU regulations and fully integrated into the client’s banking systems.

Team Size: 5 People

Duration: 1 Year

Technologies: Angular 7, Java/Spring Boot, Microservices

Services: Software Development

Solution

A banking application designed to digitize and facilitate the lending process and reduce the physical time spent by customers at their local branches. The financial solution is designed to automate the end-to-end personal loan application process through a cross-platform software application.

The app evaluates customers based on risk criteria cuts the time spent applying for a loan to a matter of minutes and wastes no paper in the process. APIs from multiple regulatory agencies and from the internal bank of the client are integrated into the solution to ensure the lending process is compliant with all EU regulations and its workflow is automated across the banking systems.

The solution relies on a microservices architecture, with Java and Spring Boot as the main technologies for the backend. The microservices communicate internally through queues using RabbitMQ with data structures of JSON type. JavaScript with Angular and CSS are being used for frontend.

Collaboration

The client is part of one of the largest financial service providers in the CEE region, and a leading retail banking provider in the local market.

When we started the collaboration, the client was looking for a software services company that could integrate into their ecosystem and augment their existing teams to accelerate time-to-market for their solutions. Our Agile competencies combined with financial software development know-how and the capacity to attract and retain talent played an important role in setting the base for a successful partnership with the client.

In the beginning, the team at Fortech included three software engineers fully integrated into the client’s development environment. Since then, we have grown to be a part of their teams, a truly reliable partner, and a preferred supplier for software services.

Client Benefits

SKILLS
Financial software development skills coupled with a deep understanding of the business context

EXPERIENCE
Proven partnership model, and the ability to easily complement their teams with different roles

AGILE
Providing extensive agile expertise and technical consultancy

Browse Other Software Development Projects

Account Info & Payments Platform Using Open Banking APIs

Universal Open Banking API Platform providing access to account information and facilitating payment initiation. It is developed by following strict security practices and is 100% regulatory compliant with the EU directives for financial services.

Data Crunch Application

The solution is a suite of web and mobile applications for a commodities risk-specific Business Intelligence platform. It has a deep algorithm powered by artificial intelligence that facilitates the decision-making processes. Fortech provides multiple services in a distributed team engagement model.

Cash Management Analytics Tool

The solution is a complex web application that offers real-time visibility over the entire banking estate of a user. It allows users to transfer on-demand large amounts of cash from one account to another, from one currency to another, and even from one continent to another.